房价失守深圳楼市终于坐不住了

Core Viewpoint - Shenzhen's real estate market is responding to regulatory changes, with new policies introduced to stimulate housing demand and adjust market dynamics [1][2]. Policy Changes - Shenzhen's new housing policy divides the city into three zones: core area (Nanshan, Futian, Bao'an Xin'an), peripheral area (Luohu, Bao'an excluding Xin'an, Longhua, Longgang, Guangming, Pingshan), and suburban area (Yantian, Dapeng, and Shenshan) [4][5][6]. - In the core area, non-residents must have one year of social insurance to purchase homes, while in peripheral areas, there are conditional limits on the number of properties that can be bought [7][8]. - The suburban areas have eliminated purchase restrictions for non-residents, allowing them to buy freely [8][10]. Market Dynamics - The new policy reflects a shift in the housing market, with a focus on stimulating demand amid declining prices [14][15]. - Shenzhen's second-hand housing prices fell below 60,000 yuan per square meter, marking a significant drop and indicating a broader trend of price adjustments across major cities [15][18]. - The overall housing market is experiencing a downturn, with transaction volumes for both new and second-hand homes declining significantly since April [14][21]. Economic Context - The current housing market adjustment is part of a larger trend affecting major cities, with prices in Shenzhen down 39.6% from their peak, reflecting a broader economic recalibration [24][25]. - The adjustment is seen as a necessary response to the disconnect between housing prices and local economic conditions, with many potential buyers unable to afford homes due to high prices [24][40]. Long-term Outlook - The recent policy changes are expected to have a short-term impact, with potential effects lasting from one month to a quarter, but the long-term outlook remains uncertain [33][34]. - The market is characterized by a "demand gap," where high prices prevent many from entering the market, leading to a situation where wealthier individuals are hesitant to invest, and middle-income earners feel priced out [37][41].